<ARTICLE> UT
<LEGEND>
This schedule contains summary financial information extracted from the
financial statements of NIPSCO Industries, Inc. for twelve months ended 
December 31, 1996, and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<BOOK-VALUE>                                  PER-BOOK
<TOTAL-NET-UTILITY-PLANT>                    3,194,788
<OTHER-PROPERTY-AND-INVEST>                    250,144
<TOTAL-CURRENT-ASSETS>                         511,079
<TOTAL-DEFERRED-CHARGES>                        86,863
<OTHER-ASSETS>                                 231,469
<TOTAL-ASSETS>                               4,274,343
<COMMON>                                       477,935
<CAPITAL-SURPLUS-PAID-IN>                       31,336
<RETAINED-EARNINGS>                            591,230
<TOTAL-COMMON-STOCKHOLDERS-EQ>               1,100,501
<PREFERRED-MANDATORY>                           61,246
<PREFERRED>                                     81,126
<LONG-TERM-DEBT-NET>                           403,983
<SHORT-TERM-NOTES>                             112,780
<LONG-TERM-NOTES-PAYABLE>                      723,123
<COMMERCIAL-PAPER-OBLIGATIONS>                 313,205
<LONG-TERM-DEBT-CURRENT-PORT>                  146,052
<PREFERRED-STOCK-CURRENT>                        1,828
<CAPITAL-LEASE-OBLIGATIONS>                          0
<LEASES-CURRENT>                                     0
<OTHER-ITEMS-CAPITAL-AND-LIAB>               1,330,499
<TOT-CAPITALIZATION-AND-LIAB>                4,274,343
<GROSS-OPERATING-REVENUE>                    1,821,626
<INCOME-TAX-EXPENSE>                           110,995
<OTHER-OPERATING-EXPENSES>                   1,424,338
<TOTAL-OPERATING-EXPENSES>                   1,535,333
<OPERATING-INCOME-LOSS>                        286,293
<OTHER-INCOME-NET>                               5,693
<INCOME-BEFORE-INTEREST-EXPEN>                 291,986
<TOTAL-INTEREST-EXPENSE>                       115,252
<NET-INCOME>                                   176,734
<PREFERRED-STOCK-DIVIDENDS>                        119
<EARNINGS-AVAILABLE-FOR-COMM>                  176,615
<COMMON-STOCK-DIVIDENDS>                       103,981
<TOTAL-INTEREST-ON-BONDS>                       31,847
<CASH-FLOW-OPERATIONS>                         321,011
<EPS-PRIMARY>                                     2.88
<EPS-DILUTED>                                     2.87